Tenants’ choices are increasingly based on practical factors

Affordability is the most important factor for tenants in the UK looking for a home to rent, according to a new survey which suggests that renters seek practicality when choosing a new home.

The cost of renting a home was the top factor for over 40 per cent of respondents to the research carried out by Intus Lettings.

Only 8 per cent prioritised amenities, including restaurants and public transport links as a driving force behind their decision on a tenancy, it also found.

An outdoor space is also important, with 46 per cent saying they would like a garden, terrace or balcony, while 40 per cent would be put off by a property without a parking space, and 24 per cent said they would be deterred by dated interiors.

However, where would-be tenants look to find a home varies widely by age group, the poll shows.

Some 34 per cent of those aged 18 to 24 would like live in a city centre apartment, whereas over 35s named a house in a smaller town as their ideal location.

Hope McKendrick, Lettings Manager at Intus Lettings, said: “Our figures seem to suggest that renters first and foremost seek practicality over certain features which have traditionally been seen as desirable, especially to younger tenants, such as nearby shops and restaurants or a vibrant nightlife.

“With high rental costs across the UK, many young renters may be forced to prioritise a property which works around their budget and daily routine, as tenants flock to homes which provide ample parking or easy access to city centre jobs or studies.

“We’re seeing a clear trend towards a generation of practical renters, those looking for a convenient, modern feeling home rather than exciting but potentially costly surroundings.”

Richard Truman, Head of Operations at Simple Landlords Insurance said: “News that practical considerations are informing the sort of properties renters choose is very encouraging.

“Sensible tenants are more inclined to pay their rent on time and treat their rented homes well. If you can get the right tenants in you can avoid a multitude of problems down the line.”

Simple Landlords Insurance is a business name of Millennium Insurance Brokers Limited. Millennium Insurance Brokers Limited are authorised and regulated by the Financial Conduct Authority. Our FCA registered number is 308310
Millennium Insurance Brokers Limited is registered in England and Wales Company No. 2103848. Registered Office: Quay Point, Lakeside Boulevard, Doncaster, DN4 5PL.
* More than 10% of new and existing customers paid less than £112.67 for their cover between January and December 2019.